Grant Thornton’s Comparison between U.S. GAAP and IFRS® Standards is designed to help financial statement preparers grasp some of the major similarities and differences between IFRS and U.S. GAAP. This publication places a greater emphasis on the recognition, measurement, and presentation guidance provided by the FASB and IASB, and less emphasis on the disclosure requirements. It covers only those differences in guidance that we believe practitioners generally encounter in practice.
This update of the comparison guide includes standards issued as of December 31, 2023 that are effective as of that date. For U.S. GAAP, this guide has used the effective date for standards for public business entities that are SEC filers. This publication does not include accounting alternatives for private companies.
Download (PDF - 2.2MB) our comparison guide in an reader-friendly tabular format.
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This Grant Thornton LLP content provides information and comments on current issues and developments. It is not a comprehensive analysis of the subject matter covered. It is not, and should not be construed as, accounting, legal, tax, or professional advice provided by Grant Thornton LLP. All relevant facts and circumstances, including the pertinent authoritative literature, need to be considered to arrive at conclusions that comply with matters addressed in this content.
For additional information on topics covered in this content, contact a Grant Thornton LLP professional.
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